Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

Best Buy Slows Expansion in China

China Business News, 6/19/08

With its first quarter earnings falling 7% to USD 179 mln, consumer electronics retailer Best Buy plans to slow down its expansion in China in 2008. The company had originally aimed to open 5 to 8 Best Buy stores, and another 20 to 25 under the Five Star Appliance brand, but will cut down these numbers to 1 to 3, and 8 to 16, respectively.

The time needed to obtain government approval on opening new stores had also exceeded Best Buy's expectation. Despite that, Bob Willett, CEO of Best Buy International, said the company is not giving up opportunities, and will prepare for further expansion in China.

Keywords: strategy Five Star Appliance Best Buy consumer electronics expansion hardware retail

Feedback

Please note, all fields are required.
None of your personal information will be shared with third parties.

SendingSending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports